I received an email today from Numismatic Guaranty Corporation or NGC for short. The email was from a relatively new online auction house, Collectors Auction House.
I did a read up on their website and had some correspondence with someone from the house. I think its a great idea as they allow buying and selling of notes purely via an online platform, primarily via Liveauctioneers.com.
For those of us who choose to bid purely online, this presents an opportunity to significantly reduce both buyer and seller costs. I've attached the auction cost details via an email correspondence screenshot below.
Of course, this definitely doesnt mean that the brick and mortar auction houses are a thing of the past. For most of us who prefer to see the physical note and prefer to deal with the traditional big houses, the traditional auction houses are still the most welcome option. Also, from the values transacted so far the traditional auction houses still have managed to garner much higher auction values for sellers.
Nevertheless, this still presents an excellent and viable alternative for those of us who usually bid online and would like to give a new player an opportunity to establish themselves further. A result is a growing presence for them and significant discounts for both buyers and sellers. This to me is a win-win scenario and as always, who doesn't like this?
Conclusion:
Traditional auction houses are still here to stay, but the emergence of pure online players like Collectors Auction House present significant opportunities for the numismatic community.
This would only help grow and preserve the interest and presence of currency collections for many generations to come.
*All comments are proprietary, objective and formed by me and there has been no endorsement by any organisation. Please form your own views and analysis in making your numismatic decisions.
For more details of this auction house please visit:
Collectors Auction House
Sincerely,
Paul's Numismatic Passions
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